The sales continued to rack up at high levels as many cash buyers showed few signs of slowing down over what is usually a more cautious month of May - owing to traditional budgets in the sub-continent and slower overall activity at local yards due to the oncoming monsoon months ahead.
With containers having been the vessels of choice over the past few months, it was interesting to see smaller bulkers take over this week - some at hugely impressive numbers indeed!
Turkish owners seemed to dominate the market with sales as the GOKHAN KIRAN (9,594 LDT) caught everybody off guard by capturing an enormous USD 440/LT LDT (price usually reserved for a tanker or container). The 250 T bunkers and Brazilian country of build were the most prevalent factors governing the big price on show.
The smaller bulkers EMIR (5352 LDT) obtained a fantastic USD 428/LT LDT and the SUR (6,170 LDT) a similarly firm USD 42I/LT LDT in the other moves for the week.
Source: Steel Guru. 14 May 2013http://www.steelguru.com/indian_news/GMS_weekly_report_on_Indian_ship_breaking_industry_for_WEEK_19/311976.html